Iran deal dead. DOGE dead. Saylor selling at a loss. Medieval serfs kept more of their income than you do. I warned you about all of it.
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The Iran peace deal collapsed and the war is back on, with Trump acknowledging he was “two weeks from a depression” when he agreed to the MOU — a confession Peter Schiff says handed Iran all the leverage. Oil jumped 6% to $75, but the real story is bond yields: the 10-year hit 4.58% and the 30-year 5.07% — nearly at cycle highs despite oil being 25% below its peak, proving the debt, not the war, is driving yields higher.
FOMC minutes revealed that 9 of 13 members now support rate hikes after zero did just 90 days ago — theatrics Schiff says Warsh is orchestrating to appear hawkish without ever delivering. The May goods trade deficit exploded to $106.5 billion despite Trump’s tariffs, continuing the pattern from his first term. DOGE was officially shut down with zero spending cuts achieved. Strategy sold 3,588 Bitcoin at a $15,000 per coin loss while Stretch sank to $86, and Trump’s new savings accounts give kids $1,000 in borrowed money they’ll repay through inflation. Schiff closes by noting that medieval serfs kept 75% of their output — more than the average American keeps today — making modern taxpayers lower in status than feudal peasants.
Chapters:
00:00 Freedom Versus Slavery
00:46 Iran Deal Collapses
05:04 Markets React to War
07:15 Oil Bonds and AI Bubble
16:17 Fed Minutes Rate Hike Theater
21:28 Tariffs Inflation Excuses
26:10 Real Rates and Debt Trap
27:41 Trade Deficit Reality Check
30:03 AI Threat to Services Surplus
32:32 Democracy Deficits and Rights
34:59 Rights And Healthcare
36:28 Housing And Free Markets
40:08 Tax Cuts And Wealth Theft
45:55 Taxes And Modern Slavery
48:25 DOGE Shutdown And Bitcoin Crash
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